Fintel reports that on January 12, 2026, Morgan Stanley upgraded their outlook for Appian (NasdaqGM:APPN) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 25.54% Upside
As of December 21, 2025, the average one-year price target for Appian is $42.43/share. The forecasts range from a low of $37.37 to a high of $50.40. The average price target represents an increase of 25.54% from its latest reported closing price of $33.80 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Appian is 744MM, an increase of 7.75%. The projected annual non-GAAP EPS is -1.19.
What is the Fund Sentiment?
There are 406 funds or institutions reporting positions in Appian. This is an increase of 12 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to APPN is 0.16%, an increase of 9.54%. Total shares owned by institutions increased in the last three months by 0.95% to 39,613K shares. 
The put/call ratio of APPN is 1.67, indicating a bearish outlook.
What are Other Shareholders Doing?
Lead Edge Capital Management holds 1,811K shares representing 4.24% ownership of the company. In its prior filing, the firm reported owning 1,625K shares , representing an increase of 10.29%. The firm increased its portfolio allocation in APPN by 8.92% over the last quarter.
Abdiel Capital Advisors holds 1,324K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 7,715K shares , representing a decrease of 482.65%. The firm decreased its portfolio allocation in APPN by 43.12% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,307K shares representing 3.06% ownership of the company. In its prior filing, the firm reported owning 1,256K shares , representing an increase of 3.87%. The firm decreased its portfolio allocation in APPN by 3.80% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 1,291K shares representing 3.02% ownership of the company. In its prior filing, the firm reported owning 691K shares , representing an increase of 46.50%. The firm increased its portfolio allocation in APPN by 70.73% over the last quarter.
First Trust Advisors holds 1,072K shares representing 2.51% ownership of the company. In its prior filing, the firm reported owning 1,145K shares , representing a decrease of 6.80%. The firm decreased its portfolio allocation in APPN by 11.43% over the last quarter.
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